Common use of Operating Facilities Clause in Contracts

Operating Facilities. 1. Xxxxxxxx has the right to transfer all property owned by Landlord and given to Tenant for Tenant's use that qualifies or could qualify as operating equipment or otherwise as chattel for tax purposes to a special purpose entity and to give such property to Tenant in Landlord's own name (in trust) or in the name of the special purpose entity (directly through the special purpose entity). The landlord may exercise this right at any time without restriction, once or several times.

Operating Facilities. 1. Xxxxxxxx Landlord has the right to transfer all property owned by Landlord landlord and given to Tenant tenant for Tenanttenant's use that qualifies or could qualify as operating equipment or otherwise as chattel for tax purposes to a special purpose entity and to give such property to Tenant tenant in Landlord's own name (in trust) or in the name of the special purpose entity (directly through the special purpose entity). The landlord may exercise this right at any time without restriction, once or several times.

Operating Facilities. 1. Xxxxxxxx has the right to transfer all property owned by Landlord and given to Tenant for Tenant's use that qualifies or could qualify as operating equipment or otherwise as chattel for tax purposes to a special purpose entity and to give such property to Tenant in Landlord's own name (in trust) or in the name of the special purpose entity (directly through the special purpose entity). The landlord may exercise this right at any time without restriction, once or several times...